American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z

American Express CFO says spending picked up at year-end, thanks to millennials and Gen Z


Key Points
  • American Express’ affluent cardholders got comfortable spending more freely again late last year, Chief Financial Officer Christophe Le Caillec told CNBC.
  • Spending on AmEx cards jumped 8% year over year in the fourth quarter after slowing down from a 7% growth rate early in the year to 6% in the second and third quarters, according to the firm’s earnings presentation.
  • The pickup was especially fueled by millennials and Gen Z users, who spent more on experiences such as travel and entertainment.



Source

Stocks making the biggest moves premarket: Pinterest, Lyft, Coinbase, BP, Affirm and more
Finance

Stocks making the biggest moves premarket: Pinterest, Lyft, Coinbase, BP, Affirm and more

Check out the companies making headlines before the bell. Coinbase — The cryptocurrency exchange slipped 2% following disappointing top-line results for the first quarter . Coinbase reported revenue of $2.03 billion, while analysts polled by LSEG were expecting $2.12 billion. Earnings fell to 24 cents per share from $4.40 per share a year ago. Expedia […]

Read More
Stocks making the biggest moves after hours: Affirm, Coinbase, Pinterest and more
Finance

Stocks making the biggest moves after hours: Affirm, Coinbase, Pinterest and more

Check out the companies making headlines in extended trading. Affirm — Stock in the buy now, pay later company pulled back nearly 8%. Affirm issued fiscal fourth- quarter revenue guidance ranging between $815 million and $845 million, with a midpoint of $830 million. That’s short of the consensus estimate of $841 million, per LSEG. Pinterest […]

Read More
Stocks making the biggest moves midday: AppLovin, Carvana, MercadoLibre, Crocs and more
Finance

Stocks making the biggest moves midday: AppLovin, Carvana, MercadoLibre, Crocs and more

Check out the companies making headlines in midday trading. AppLovin — The mobile ad tech company jumped 12% after first-quarter results that beat analyst expectations. AppLovin also announced it would sell its mobile gaming business in a $400 million deal. Carvana — Shares jumped more than 11% after the online used car marketplace posted better-than-expected […]

Read More